Chap 15 - BE15-1 Your answer is correct Buttercup Corporation issued 300 shares of $10 par value common stock for $4,500 Prepare Buttercup's journal

Chap 15 - BE15-1 Your answer is correct Buttercup...

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BE15-1 Your answer is correct. Buttercup Corporation issued 300 shares of $10 par value common stock for $4,500. Prepare Buttercup's journal entry. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Description/Account Cash Common Stock Paid-in Capital in Excess of Par BE15-2 Your answer is correct. Swarten Corporation issued 600 shares of no-par common stock for $8,200. Prepare Swarten's journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) (a) Description/Account Cash Common Stock-No-Par Value (b) Description/Account Cash Paid-in Capital in Excess of Stated Value Common Stock BE15-3 Your answer is correct. Wilco Corporation has the following account balances at December 31, 2012. Common stock, $5 par value $510,000 Treasury stock 90,000 Retained earnings 2,340,000 Paid-in capital in excess of par 1,320,000 Prepare Wilco's December 31, 2012, stockholders' equity section.
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WILCO CORPORATION Stockholders' Equity December 31, 2012 Common stock $5 par value Paid-in capital in excess of par Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity BE15-4 Your answer is correct. Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par value preferred stock for a lump sum of $13,500. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share. Prepare the journal entry to record the issuance. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Description/Account Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Common Stock Paid-in Capital in Excess of Par-Common BE15-5 Your answer is correct.
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On February 1, 2012, Buffalo Corporation issued 3,000 shares of its $5 par value common stock for land worth $31,000. Prepare the February 1, 2012, journal entry. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Description/Account Debit Credit Land 31000 Paid-in Capital in Excess of Par 16000 Common Stock 15000 BE15-6 Your answer is correct. Moonwalker Corporation issued 2,000 shares of its $10 par value common stock for $60,000. Moonwalker also incurred $1,500 of costs associated with issuing the stock. Prepare Moonwalker's journal entry to record the issuance of the company's stock. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Description/Account Debit Credit Cash 58500 Paid-in Capital in Excess of Par 38500 Common Stock 20000 BE15-7 Your answer is correct. Sprinkle Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2012, Sprinkle reacquired 100 shares at $87 per share. On September 1, Sprinkle reissued 60 shares at $90 per share. On November 1, Sprinkle reissued 40 shares at $83 per share. Prepare Sprinkle's journal entries to record these transactions using the cost method. (List multiple debit/credit entries from largest to smallest amount, e.g.
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